US crude oil prices sank 2.72 percent Thursday on profit-taking of speculative buying in earlier sessions.
The investment bank said there was enough oil to meet demand, but "global spare capacity is dwindling to the lowest level that we can document. meaning any further supply disruptions would be hard for the market to manage - and could lead to spiking crude oil prices". Due to those uncertainties, the market is now very nervous and emotional, and traders and other market participants could continue to make decisions based on those uncertainties and push prices higher, he said.
US West Texas Intermediate (WTI) crude futures were up 47 cents, or 0.6 percent, at $74.80 a barrel. Crude inventories in the world's largest economy increased at five times the pace predicted in a Bloomberg survey, fueled in part by rising imports and a dip in foreign demand for American oil.
During the latest meeting, "both sides actively discussed the US' reimposition of sanctions against Iran", while Tokyo reiterated its basic principle that Japanese corporate activity should not be impacted by the USA sanctions, Japan's Ministry of Foreign Affairs said in a statement Tuesday, Platts reported.
¡Aguas! Retiran en EUA toneladas de carne contaminada
La enfermedad puede durar de cuatro a siete días y lo mejor es acudir al médico si se sospecha de un posible contagio. Los síntomas de la salmonela generalmente comienzan entre 12 y 72 horas después de consumir alimentos contaminados .
Despite this, traders said prices were held back by a strong dollar, which makes oil imports more expensive for countries using other currencies domestically, as well as by climbing supply in the US. The contract was up 2.2 percent this week.
As crude oil prices reach a four-year high, Mr. Trump repeatedly called on OPEC and Saudi Arabia, the world's biggest oil exporter, to push prices down.
Brent for December settlement was little changed at $84.50 on the London-based ICE Futures Europe exchange. The global benchmark crude traded at a $10.33 premium to WTI for the same month. Currently, most OPEC producers are pumping at, or close to, full capacity, with only Saudi Arabia able to increase output significantly.
Overall exports from Iran have dropped to 2 million barrels per day (bpd) in September from 2.8 million bpd in April, the Institute of International Finance said. Refinery crude runs fell by 158,000 barrels per day (bpd), API data showed. After the JCPOA and the European Union agreed to relieve sanctions imposed on Iran on the condition that the country curb its nuclear capacity in July 2015, Iran's crude exports saw a slight increase in 2016, reaching 1.9 million bpd and jumped to 2.1 million bpd in 2017, according to data compiled from OPEC.